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Wednesday, June 24, 2009
Independent Audit Finds No Fault with Atlantic County Government
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Atlantic County government is now 10 for 10. An independent audit of Atlantic County's financial operations and procedures has reported no findings. This marks the tenth consecutive year Atlantic County government has received a perfect audit.
“This is a significant accomplishment and not many local governments can make the same claim,” stated County Executive Dennis Levinson. “A decade of perfect audits is a testament to the dedication of our employees and the competency of our financial staff.”
The 2008 audit was conducted by Ford -Scott & Associates, LLC of Ocean City, an independent public accounting firm and the fourth independent auditor to report no findings. Atlantic County uses a competitive bidding process to select an auditor and county policy mandates that it change firms every three years.
The audit covered the financial transactions of the treasurer’s office and the financial records of the county’s constitutional offices and institutions. Cash on hand was counted and cash balances were reconciled with independent certifications obtained directly from the depositories. Additionally, revenues and receipts were established and verified as to source and amount.
The audit further examined all advertised contracts and agreements in accordance with state statute and found no payments in excess of the statutory bid threshold “for the performance of any work or the furnishing or hiring of any materials or supplies” other than those where bids had been previously sought by public advertisement, awarded under state or county cooperative purchasing agreements, or where a resolution had been previously adopted.
“Atlantic County government continues to operate with integrity and hold itself to the highest standards and principles,” Levinson said. “Despite the state’s economic instability, our residents can rest assured that their county government is a responsible financial steward.”
The audit was certified by the Atlantic County Board of Freeholders on June 16 in accordance with the requirements of the Local Finance Board.
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